Fort Worth daily gazette. (Fort Worth, Tex.) 1882-1891, 1887-12-07

WASHINGTON, Dec. 6.-Following is
the full text Of the Presidents message as
read to the two Houses Of Congress to-
day:
To thu Congress OF the United States:
You are confronted at the threshold OF
your legislative duties With condition OF
the national finances which imperatiyely
demands immediate and careful consid-
Grafton. The amount Of money annually
exscted through the operations of the
present laws from the industries and
necessities of the people largely exceeds
the sum necessary to meet the expenses
Of the government. When we consider
that the theory of our institutions guaran-
tees to every citizen the full eDjoyments
OF all the fruits OF his industry aud enter
prise and with only such deduction es
msy be his share towards the careful and
economical maintenance OF the govern
meut which protects him, it is plain that
the exaction of more than this
IS INDRFENsIBLE EXTORTI0N
and CulpaoIe betrayal of American fair
ness and Justice. This wrong Inflicted
.apon those who bear the burden OF
pnational taxation, like other wrong,
multpIies brood CT evil consequences,
The public Treasury which should only
exist as conduit conveying the peoples
tributes to lis legitimate objects of ex-
penditure becomes boarding place fol
money needlesslY Withdrawn from trade
and the peoples use, thus cripDling oul
national energies, suepending our cOun
try's development, preventing invest
ments in productive enterprise, threaten
ing financial disturbance and inviting
schemes Of public plumber. This condi
ton of our Treasury is not altogether
new, and it has more than once Of late
been submitted to the peoples repre-
sentatiRes in Congress who alone Cal
apply q remedy, and yet the situstior
continues with aggravated Incidents NOR,
than ever presagiDg q financial convul
| sion and
WIDESPREAD DISASTER,
II will not 90 to neglect this situation
Because its dangers are rot nov
pslpably eminent and apparent
! they exist none the less certainly, ent
await the unforeseen and unexpected &C
| cssiop, wlen suddenly they Will be pre-
cipItated upon Us. On the 30th day O
June, 1885, the excess Of revenues owe
| public expenditures, after complying viii
4fssefarnual requirements Of the sinkiB!
Fund act, was ST. $50. 1856 81. During tn
year ended June so, 1856, such exces
amounted to S44, $50 500, and during tn
! year ended Jun. 30 1887, it reaC ned tn
| sum o. $50, 567 $40 81 The annual con
! tributiOns to the sinkinpgiu1d during th
| three years above spvcid amounted Il
the aggregate to $l38, 058 500 81. snd de
| dac!iOns from the surplus as stated wer
made by calling in for the purpose out
! standing per cent. BONDS OF the govern
ment. During the six months prior L
June 80, 1887, the surplus revenue ha
grown so large
| BYtREPEATED ACCUMULATION
and it was feared the WithdrA wal of thi
great sum of money needed By the peopl
would so affect the business CT the cOun
icy that the sum Of So, S64, 100 Of sue
Surplus YVES applied to the payment OF tn
Municipal and interest Of the per cent
fbonds still outstanding and which Wer
lihen payable at the option of the govern
4ment. The precariouS condition OF fioan
kCiSi affairs among the people still nesd!nl
Irelief, Immediately after the S0sh day @
EJune, 1887, the remainder OF the pc
fcent. bonds then outstanding amounting
REith princiDRI and interest, to the sum c
SIS ST., 500, were called in and applied tt
tisAslnkipg fuad contributed for the cur
rent Rsg1syear.